YTR Corporation’s end-of-year financial data includes:

Cash: $70,000

Accounts Receivable: $55,000

Supplies: $5,000

Accounts Payable: $12,000

Salaries Payable: $5,000

Common Stock: $85,000

Retained Earnings (beginning of the year): $30,000

Service Revenue: $110,000

Wages Expense: $26,000

Supplies Expense: $4,000

Rent Expense: $7,000

Utilities Expense: $3,000

Interest Expense: $2,000

Income Tax Expense: $8,000

Requirements:

Calculate the net income for the year.

Determine the ending retained earnings.

Compute the quick ratio.

Calculate the total liabilities.

Determine the debt-to-equity ratio.